Loan News

More than 7,716 loan repayments are going unpaid every day as the recent Bank of England rate rises start to bite, new MoneyExpert.com research shows.

Michelle Slade, personal finance analyst at Moneyfacts.co.uk, comments: “With PPI currently under the OFT microscope and being seen as an ‘overpriced, inflexible’ product, you may have thought lenders would be reluctant to rock the boat further.

People looking to borrow less than £5,000 are finding affordable loans increasingly difficult to come by, according to MoneyExpert.com.

Zopa, the online lending and borrowing marketplace where people cut out the banks, has won The Banker Technology Award for 2007 for the Best Internet Project.

The Post Office has applauded the Which? research highlighting underhand sales tactics where by payment protection insurance (PPI) is automatically added to a loan, but is not compulsory.

Around one in three personal loans can now be approved with a quick online decision, new analysis by MoneyExpert.com shows.

Customers with personal loans that include Payment Protection Insurance could get a significant refund if they seek a better protection deal and switch, according to the Post Office.

The National Consumer Council (NCC) is delighted that a scheme to tackle loan sharks will be rolled out nationally to help nearly 200,000 of the poorest, most vulnerable people escape the grip of illegal lenders.

Today, the Chancellor of the Exchequer, Gordon Brown, announced new additional funding to enable the national roll out of a scheme to tackle loan sharks, with a project in every region.

Almost three-quarters (71%) of adults in the UK incorrectly believe the people who lived at their address before them can affect their credit rating.